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M&A Deal Summary

Empire Petroleum Acquires Pardus Oil & Gas - Texas Oil and Gas Assets

On April 16, 2020, Empire Petroleum acquired oil/gas exploration company Pardus Oil & Gas - Texas Oil and Gas Assets from Pardus Oil & Gas

Acquisition Highlights
  • This is Empire Petroleum’s 4th transaction in the Oil/Gas Exploration sector.
  • This is Empire Petroleum’s 4th transaction in the United States.
  • This is Empire Petroleum’s 2nd transaction in Texas.

M&A Deal Summary
Date 2020-04-16
Target Pardus Oil & Gas - Texas Oil and Gas Assets
Sector Oil/Gas Exploration
Buyer(s) Empire Petroleum
Sellers(s) Pardus Oil & Gas
Deal Type Divestiture

Target

Pardus Oil & Gas - Texas Oil and Gas Assets

Houston, Texas, United States
Pardus Oil & Gas LLC - Texas Oil and Gas Assets comprises 139 gross oil and gas wells with multiple stacked-pay formations in northeast Eagle Ford and encompasses approximately 30,397 net acres of leasehold, of which approximately 18,000 net acres comprise the Ft. Trinidad Field. The properties are characterized by approximately 91% working interest and 83% net revenue interests, and have been recently producing over 400 BOEPD (Barrels of Oil Equivalent per Day) primarily from the Woodbine, Buda, Georgetown, and Edwards formations.

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Buyer(S) 1

Buyer

Empire Petroleum

Tulsa, Oklahoma, United States
Category Company
Founded 1983
Sector Oil/Gas Exploration
Employees63
Revenue 44M USD (2024)
DESCRIPTION

Empire Petroleum is an oil and gas company. Empire Petroleum focused on targeted acquisitions of proved developed assets with synergies with its existing portfolio of wells. Empire Petroleum was founded in 1983 and is based in Tulsa, Oklahoma.

DEAL STATS #
Overall 4 of 4
Sector: Oil/Gas Exploration M&A 4 of 4
Type: Divestiture M&A Deals 4 of 4
State: Texas M&A 2 of 2
Country: United States M&A 4 of 4
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-03 EnergyQuest II - Producing Oil & Gas Assets

Houston, Texas, United States

EnergyQuest II LLC - Producing Oil & Gas Assets are comprised of 184 producing oil and gas wells with predictable, low decline production profiles, low-risk workover opportunities, undeveloped new drilling opportunities and other potential operating and production enhancements to improve unit operating costs and improve existing margins.

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Seller(S) 1

SELLER

Pardus Oil & Gas

Fort Worth, Texas, United States
Category Company
Sector Oil/Gas Exploration
DESCRIPTION

Pardus Oil & Gas LLC engages in the exploration and development of onshore oil and gas assets in East Texas. The company focuses on the Buda and Eaglebine consisting of Woodbine Sandstone, Eagle Ford Shale, and other stacked formations in the East Texas Basin.

DEAL STATS #
Overall 1 of 1
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2020 M&A 1 of 1
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